Futura, an Italian AI-powered edtech startup, has raised €14 million in Series A funding. The round was led by Eurazeo (invested in Electra and Corti), with participation from existing investor United Ventures and new investor Axon Partners Group.
This round follows the €1.8 million seed funding it raised back in 2022. This funding will enable Futura to accelerate its mission of making the world learn faster by investing further in their technology and AI, expand its reach throughout Europe, and develop new products, after initially focusing on medical school entrance test preparation. The company is also focused on hiring in Italy and Spain and plans to double its team size within the year.
Persinalised learning algorithm
Futura was founded in 2020 by Andrea Chirolli, Francesco Salvatore, and Lorenzo Pinto in Italy. The company has developed an innovative algorithm that personalises and optimises students’ learning trajectories. This algorithm replicates the experience of working with a highly skilled private professor, resulting in impressive outcomes. As per the company, students using Futura have a 3.5 times higher chance of passing tests than traditional learning methods.
Futura’s innovative algorithm optimises and tailors the study method to their unique needs. Moreover, the algorithm automatically addresses students’ inquiries, making customer support more efficient and faster.
Alice, an AI-powered virtual tutor
Futura believes that traditional education methods are outdated and cannot keep up with the potential of modern technology. It views AI as a game-changer in the edtech space, enabling personalised learning at scale and an affordable price, thereby making education more accessible to all.
To further enhance the learning experience, the edtech startup has developed Alice, an AI-powered virtual tutor that uses large-language models to generate customised explanations and learning materials, tailored to each student’s level, knowledge, and learning style.
As per the company, this product will significantly impact education and help the next generation of learners multiply their learning speed. The company is well-positioned to lead the charge in this new era of edtech, making education more personalised, efficient, and accessible to all.
“We have a strong proven track-record on growth, but what really counts are our people. We set a different standard, and this is what drives our success. Why I love working at Futura: we have a very high bar, and we’re kind with each other. I strongly believe these two go hand in hand, and this is what makes us attract top talents,” said Andrea Chirolli, co-founder at Futura.
“We’re convinced that Futura provides a value-added solution for the entire education ecosystem in Italy. We’re thrilled to partner with Andrea, Lorenzo, Francesco and the rest of the Futura team, leveraging its unique AI capabilities to build the next education leader in Europe,” added Alexandre Dewez, Vice-President at Eurazeo.
“Futura is addressing a massive need through an innovative approach that leverages the latest technologies. We’re excited to continue supporting their vision of reimagining education and helping many more students succeed,” said Paolo Gesess, co-founder & managing partner at United Ventures.
“Very thrilled to announce our collaboration with Eurazeo and United Ventures as part of the remarkable team at Futura. Together, we embark on a journey aimed at establishing Futura as a leading force in European education,” said Manuel Monge, Investment Manager at Axon Partners Group.
